This is an example of terms that were available to recent Discover card applicants as of , and may not be available now. If you apply for a new Discover card, your terms will be based on the available offer.
The Pricing Schedule lists the Annual Percentage Rates (APRs), which apply to your account, as well as other important fees and information. Remember, the Pricing Schedule is part of the Cardmember Agreement.
Each Cardmember Agreement may contain different terms and pricing depending on the account holder's credit history and their specific credit card offer. That said, the majority of what is contained in this sample agreement would apply and remain unchanged.
If you're already a Discover customer, you can request to have your specific Cardmember Agreement sent to you. In addition, many details specific to your account that would be contained in your agreement, such as your APRs and fees, are also accessible online in the Account Center.
|Interest Rates and Interest Charges|
|Annual Percentage Rate (APR) for Purchases||. This APR will vary with the market based on the Prime Rate 1|
|APR for Balance Transfers||. This APR will vary with the market based on the Prime Rate 1|
|APR for Cash Advances||. This APR will vary with the market based on the Prime Rate 1|
|Penalty APR and When It Applies||
|Paying Interest||Your due date is at least 25 days after the close of each billing period (at least 23 days for billing periods that begin in February). We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers as of the later of the transaction date or the first day of the billing period in which the transaction posted to your Account.|
|Minimum Interest Charge||If you are charged interest, the charge will be no less than $.|
|Balance Transfer Fee||3% of the amount of each transfer.|
|Cash Advance Fee||Either $10 or 5% of the amount of each cash advance, whichever is greater.|
|Late Fee||None the first time you pay late. After that, up to $35.|
|Returned Payment Fee||Up to $35|
How We Will Calculate Your Balance
We will use a method called "daily balance (including current transactions)."
- 1 The purchase and balance transfer APR is equal to the Prime Rate plus a margin .
- The Cash Advance APR is equal to the Prime Rate plus a margin of %.